U.S. airlines to dash for cash grants, not loans, even with potential government stake
U.S. airlines are preparing to tap the government for up to $25 billion in grants to cover payroll in a sharp travel downturn triggered by the coronavirus, even after the government warned it may take stakes in exchange for bailout funds, people famili…
Wall Street surges in third straight day of gains
Wall Street rallied for a third straight session on Thursday as record weekly jobless claims came in below investors’ worst fears and investors focused on an unprecedented $2 trillion stimulus awaiting approval by the U.S. House of Representatives.
Singapore Airlines taps investors for up to $10.5 billion amid coronavirus shock
Singapore Airlines (SIA) said it would tap existing investors for up to S$15 billion ($10.48 billion) of shares and convertible bonds to offset the shock to its business from the coronavirus outbreak, sending shares down as much as 10.5% on Friday.
Oil sheds more than $1 as weakening demand outweighs stimulus hopes
Oil prices dropped more than $1 a barrel on Thursday as a growing number of virus-related restrictions on travel slashed global fuel demand, overshadowing expectations that a $2 trillion U.S. stimulus package will bolster economic activity.
Senate passes $2 trillion bill for ‘strange and evil’ coronavirus crisis
The U.S. Senate on Wednesday unanimously backed a $2 trillion bill aimed at helping unemployed workers and industries hurt by the coronavirus epidemic, as well as providing billions of dollars to buy urgently needed medical equipment.
Exclusive: Ross Stores tells vendors it will cancel merchandise orders through mid-June
Ross Stores Inc said in a letter to vendors on Thursday it would cancel all merchandise purchase orders through June 18 due to the impact the coronavirus has had on its business.
Two Tesla employees test positive for coronavirus: company email
Two employees of Tesla Inc have tested positive for coronavirus but have been working from home for the past two weeks and had not been symptomatic at work, Tesla said in an email to employees on Thursday.
Exclusive: Capital One got CFTC waiver after oil price plunge increased swap exposure – sources
U.S. lender Capital One Financial Corp got a waiver from the Commodity Futures Trading Commission (CFTC) after plunging oil prices increased the bank’s derivatives exposure above a key regulatory threshold, according to two sources with knowledge of th…
Exclusive: Cirque du Soleil explores options including bankruptcy – sources
Cirque du Soleil Entertainment Group is exploring debt restructuring options that include a potential bankruptcy filing, after it was forced to cancel shows because of the coronavirus outbreak, people familiar with the matter said.
Czech breweries roll back the barrels, turn to bottles and cans
Czech breweries — including Pilsner Urquell and Budejovicky Budvar — have stopped refilling kegs and started storing their beer in cooled cellars as they seek to limit damage from pub closures caused by the coronavirus outbreak.
